<?php
use_helper('I18N');
$culture = $sf_user->getCulture();
?>

<?php
$page_title = "Stocks";
include_component('component', 'breadcrumb', array("title" => $page_title, "links" => array("Home" => "/home", "Product" => "/product", $page_title => "")));
?>

<div class="content">

    <?php include_component('component', 'sidebar', array("module" => $sf_context->getModuleName(), "action" => $sf_context->getActionName())) ?>

	<div class="maincontent">
		<h5><?php echo __("Stocks") ?></h5>
		<p><?php echo __("Stock CFDs are derivatives for margin trading. Trading stock CFDs is similar with common stock trading. The transaction price is quoted based on the price of the underlying stock price. The advantage is that investors can start trading by paying only the margin but not the full amount of the transaction value of the stock. The investors can also skip the commission charge and government stamp duty, and the trading profits will be calculated only when the liquidation of the positions has been made by the investors. Stock CFDs have the right to gain the dividends as a normal share, and are popular trading products among individual and institutional investors.") ?></p>
		<img class="alignleft" src="/images/stock.jpg" alt="#"/>
		<p><?php echo __("Advantages of Trading Stock CFDs") ?></p>
		<ul>
			<li><?php echo __("Diversified trading patterns - investors can make profits by either short-term selling or buying from a bull or bear market") ?></li>
			<li><?php echo __("Instant transaction prices - allows real-time trading confirmation") ?></li>
			<li><?php echo __("Leveraged transaction - only the margin but not the full transaction amount required for a investor to start trading") ?></li>
			<li><?php echo __("Low transaction costs - without paying the relevant taxes") ?></li>
			<li><?php echo __("Equity interests – investors can get the dividend payment") ?></li>
			<li><?php echo __("Simple trading operations - fast and close-to-spot market price") ?></li>
		</ul>
		<p><?php echo __("Trading Specification") ?></p>
		<table>
			<tr>
				<th><?php echo __("Product Code") ?></th>
				<th><?php echo __("Company Name") ?></th>
				<th><?php echo __("Margin Requirement") ?></th>
				<th><?php echo __("MIN/MAX Size(1 CFD = 1 SHARE)") ?></th>
				<th><?php echo __("Tick Value") ?></th>
				<th><?php echo __("SettlementCurrency") ?></th>
				<th><?php echo __("Example Price") ?></th>
				<th><?php echo __("LastUpdate") ?></th>
				<th><?php echo __("Download") ?></th>
			</tr>
			<tr>
				<td><?php echo __("AAPL") ?></td>
				<td><?php echo __("Apple Inc.") ?></td>
				<td>5%</td>
				<td><?php echo __("1 / No Limit") ?></td>
				<td><?php echo __("US$%1%", array("%1%" => "0.01")) ?></td>
				<td><?php echo __("USD") ?></td>
				<td><?php echo __("US$%1%", array("%1%" => "557.16")) ?></td>
				<td>23/12/2013</td>
				<td></td>
			</tr>
			<tr>
				<td><?php echo __("ADBE") ?></td>
				<td><?php echo __("Adobe System Inc.") ?></td>
				<td>5%</td>
				<td><?php echo __("1 / No Limit") ?></td>
				<td><?php echo __("US$%1%", array("%1%" => "0.01")) ?></td>
				<td><?php echo __("USD") ?></td>
				<td><?php echo __("US$%1%", array("%1%" => "58.51")) ?></td>
				<td>23/12/2013</td>
				<td></td>
			</tr>
		</table>
		<p><?php echo __("Note：for the overnight finance cost （Long/Short）, please refer to the Transaction Cost posted in the VICFX website.") ?></p>
		<h4><?php echo __("Trading commission") ?></h4>
		<ul>
			<li><?php echo __("The commission for trading a stock CFD product is 2.95 US cents per share, and the minimum charge is US$18. VICFX will charge two-side commissions when you open a contract. The commission for closing position will be charged at the same time of opening the contract.") ?></li>
		</ul>
		<h4><?php echo __("Trading hours") ?></h4>
		<ul>
			<li><?php echo __("13:31-20:00GMT (Daylight Saving Time)") ?></li>
		</ul>
		<h4><?php echo __("Trading rules") ?></h4>
		<ul>
			<li>
                <b><?php echo __("Profit and Loss Calculation") ?></b>
                <br/>
                <?php echo __("(Selling Price - Buying Price) x Contract Size x Number of Contracts = Profit/Loss in US$") ?>
                <br/>
                <?php echo __("*Commission charges are NOT included in the above calculation") ?>
            </li>
			<li>
                <b><?php echo __("Interest Calculation") ?></b>
                <br/>
                <?php echo __("{(End of Day Price x Contract Size x Number of Contracts x Interest Rate)/360} x Number of Days = US$ Interest Fee") ?>
            </li>
			<li>
                <b><?php echo __("Dividends") ?></b>
                <br/>
                <p><?php echo __("A dividend adjustment is applicable at the ex-dividend date of the underlying stock. In the case of long positions, the dividend adjustment will be credited to the client's account. In the case of short positions, the dividend adjustment will be debited from the client's account. The dividend adjustment will be made gross, with no adjustment for tax. While the position remains open, your account is debited or credited to reflect interest and dividend accordingly. If you are long, you receive dividends and pay interest; if you are short you do the reverse. If the price moves against you, you may have to post more margin, and vice versa.") ?></p>
			    <p><?php echo __("Note: VICFX has the right of final interpretation of the products’ terms and conditions.") ?></p>
			</li>
		</ul>
		<h4><?php echo __("Indices") ?></h4>
		<p><?php echo __("The equity index futures that VICFX is providing includes the S & P 500 index (SP), the Nasdaq (ND), Dow Jones (DJ), Hong Kong's Hang Seng Index (HSI), the Australian ASX SPI 200 Index (ASI) and other major global equity index futures contracts.") ?></p>
    </div>
</div>
